A decade that was relatively kind to investors has come to an abrupt end. Now more than ever, investors need help navigating uncertainty in the short term, and assessing and re-adjusting portfolios with their longer-term objectives in mind.
Wealth managers will need to navigate an unfamiliar economic backdrop, with interest rates being cut below even the levels during the financial crisis, unprecedented government support to keep businesses mothballed, and the potential for social tension and increasing unemployment. The world has changed, and wealth managers need to adapt quickly.
Wealth managers who have taken steps to prepare for this change will thrive, but many will struggle. Despite the challenging times, there are strategies that you can adopt right now to help position yourself for a better future – and prepare yourself in the case that something like this happens again.
Our most recent report Beyond COVID-19: Opportunities for Wealth Managers outlines how wealth managers can work through this crisis to help create stronger, more nimble operations that can meet changing client needs as we enter a new world.